This is Turov on Timing for Friday, June 9, 2006.
The SPX advanced 1.78 points yesterday to close at 1257.93. TOT daily traders were on the sidelines for the session.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8874.92 cumulative SPX points, compared to a gain of 799.00 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
The long term model remains neutral, and the short term model remains bullish.
The conventional wisdom (sic) would say that yesterday’s comeback was very bullish and we should see a continuation of the advance. Yet the data indicates that that’s not necessarily so, and that the market acts rather randomly after such events.
The daily model is solidly ensconced in neutrality, and I, for one, am going to start the weekend early. I recommend you do the same and continue to stand aside.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again in 72 hours.
Turov on Timing is Copyright (c) 2006 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.